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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Gutfreund's wife, Susan, is spending fifteen million dollars decorating his ______ apartment.
(a) Paris
(b) London
(c) Long Island.
(d) Manhattan.

2. The senior mortgage traders maintain that their abuse of trainees leads to _____.
(a) Lawsuits.
(b) Better workers.
(c) More money.
(d) Enlightenment.

3. Which department at Salomon Brothers is considered "the sleepy backwater"?
(a) Bond trading.
(b) Equities.
(c) Analysis.
(d) Corprate finance.

4. In any market, as in any poker game, there is a ______.
(a) Fool.
(b) Ringleader.
(c) Sociopath.
(d) Scapegoat.

5. Lewis sees John Meriwether as successful because he has the uncanny ability to do what?
(a) Hide money.
(b) Time his trades.
(c) Hide his state of mind.
(d) Avoid bad press.

6. As Lewis observes people in his firm, he finds that just as some people are mean drunks, mortgage traders are mean _____.
(a) Teachers.
(b) Parents.
(c) Dogs.
(d) Gluttons.

7. What is it called when an interviewer asks an applicant to open a high-rise window that can't be opened in a job interview?
(a) Trapped rat syndrome.
(b) Exit analysis.
(c) Hazing.
(d) The stress interview.

8. According to Lewis, the better an analyst gets at his job, the nearer he seems to ______.
(a) Death.
(b) His dreams.
(c) God.
(d) Greatness.

9. The face of Dale Horowitz reminds the author of whom?
(a) Bugs Bunny.
(b) Donald Duck.
(c) Yogi Bear.
(d) Ronald Reagan.

10. Though he was rejected by Harvard, Gutfreund eventually graduated from ______.
(a) Princeton.
(b) Oxford.
(c) Yale.
(d) Oberlin.

11. Which leading bond analyst from Salomon Brothers gives a speech at the Wharton School about how he can't get women to pay attention to him at cocktail parties?
(a) Myron Samuels.
(b) John Meriwether.
(c) John Gutfreund.
(d) Sidney Homer.

12. The Japanese in the training program are considered _____.
(a) A ruthless cult.
(b) Highly alert.
(c) A protected species.
(d) Expendable.

13. The code of Liar's Poker is something like the code of the ______.
(a) Gunslinger.
(b) Mason.
(c) Marine.
(d) Silent.

14. What dollar amount does Meriwether counter Gutfreund's bet with?
(a) Two dollars.
(b) A quarter of a million dollars.
(c) Ten million dollars.
(d) Forty-one thousand dollars.

15. Liar's Poker has a lot in common with what aspect of Wall Street business?
(a) Stock trading.
(b) Commodities trading.
(c) Currency trading.
(d) Bond trading.

Short Answer Questions

1. The author notices that young traders become _____ after they get onto Meriwether's trading desk.

2. Where does the important dinner that the author is invited to take place?

3. A trainee asks Horowitz about why the company's largest shareholder is from which country?

4. What is the name stockbrokers give to the day in 1976 when fixed stock brokerage commissions ended?

5. The front-row people in the Salomon Brothers training program are generally from which business school?

(see the answer keys)

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